China: Blockchain Tech Suggested For Use In Social Credit System
Here we go with China’s “social credit” system again. A recent seminar was held where blockchain tech was discussed at length in uses for helping the new social credit system
Chinese Experts Suggest Using Blockchain Tech in ‘Social Credit’ System
“Chinese technology experts held a seminar titled “Blockchain technology helps China’s new social credit system” on Jan. 14. English-language news outlet China.org.cn reported on Jan. 22 that over 20 experts from universities, research institutes and businesses attended the event.
China’s social credit system is a citizen reputation system that the Chinese government is currently developing. Social credit regional trials began in 2009, while a national pilot started in 2014. Four years after the national pilot began, the efforts were centralized under the purview of the country’s central bank, the People’s Bank of China.
Now, Chinese experts presumably want to leverage the reliability and immutability of blockchain technology to make sure that social credit data is always accessible and cannot be changed by unauthorized actors.
The Yunhe (Zhejiang) Technology Group, the Yunhe New Social Credit System Joint Research Institute, the China Blockchain Enterprise Social Responsibility Research Institute, and the Beijing Huaxia Industrial Network Intelligent Technology Research Institute all jointly organized the seminar.”